Thursday, August 04, 2011

Interesting Day

My 2nd largest investment right now is cash. And it's not far behind my largest investment, NICK. Today was a bloodbath in the markets. Good time to own cash.

Let's see the damage:

Berkshire Hathaway is getting close to my "good deal" threshold. If it hits that point and I don't see anything else, I might start buying more.

ValueClick is $15.42. Was $18.78 when I last looked at it. Will it go to $13?

POSCO is still at $102. Not interested.

Korea Fund is at $46.55. Getting a bit interesting. Will it go to $40?

Container leasing companies:CAP is $15.61, this might be cheap now.
TGH is $22.79, will it go to $16? Not a bad deal now.
BOX is $13.27, no opinion
TAL is $27.09, will it go to $25?

ACY is $13.90, this needs to get real cheap before I'm particularly interested. Wake me when it hits $5.

AAON is $18.41, not a bad deal. But will it fall below $15?

FLL is $2.81, but I just don't know about this one.

Forget CCLAY. I'd rather own the real thing, KO, which is at $65.82. $40 would be good.

It's always tough to know what's cheap enough. I remember back in 2002, when I could pass over things that were cheap in favor of things insanely cheap. I remember thinking that McDonald's at $15 is probably really, really cheap. It was! $84 today.

Chuck E Cheese reported results today. The stock is $35.73. Comps are up slightly. Food costs are up somewhat. Operating margin is down to 7.0% from 8.1% a year earlier. Etc. I'm not too concerned about their quarterly results. In fact, I'd prefer to see a real downturn in their earnings to scare investors away. Will it hit $23 a share?

Hot Topic is at... no one really knows where they're at. $7.20. I figured they might be worth $13 a share if they turn the business around. I'd want a price like $4 before I'd think about it.